It’s not a bad problem to have. What to do with more than $3 billion? That’s the question facing the State of New York after a settlement with BNP Paribas, a French bank charged with violating U.S. money laundering laws. Similar settlements with other banks could drive the total windfall to about $4 billion. As you can imagine, there is no shortage of ideas for what to do with this money. I believe the answer is simple; return the money to the people of New York by relieving the tax burden on residents and lowering the cost of government.
Senator Patrick M. Gallivan (R-C-I, Elma) was in Albany for today’s State of the State Address and budget presentation by Gov. Andrew Cuomo. This was the fifth State of the State message Senator Gallivan has received since taking office.